The internet was meant to be a bastion of shared knowledge and communication in this information edge. That next phase of human evolution that will allow us to achieve greater innovations than ever before.
Instead, though it has become a hub for useless memes and crazy dance videos. So, I guess it shouldn’t come as a surprise that Snap’s TikTok inspired competitor Spotlight has turned out to be a success because people have nothing better to do on the internet than create useless content for these sorts of sites (Editor’s note: Big boomer yells at clouds energy here Craig).
Despite being launched only a few months ago, Snapchat revealed that its new social media app has already garnered 100 million users – mostly in the US – and suggests that there is definitely a market for another TikTok style social media platform on the internet. That is a massive debut in just over a few months, although the company did not reveal any stats behind how much people are actually using it, so its unclear to say exactly how much time people are really spending time on the app versus its competition.
Snapchat has certainly been committed to making the app a success, promising to give away $1 million per day to creators for more than a month to get people posting videos for the site and it appears that has worked. It has seen the site boast an average of 175 000 videos uploaded per day. That is a lot of content, although the next challenge is for the company to now try and maintain that growth while finding more ways to monetise the platform and make it feasible for it to keep up with that creation drive, as revealed by Snap CFO Derek Andersen:
While it is still very early in the development of this new content platform, we are highly encouraged by the initial results and excited about the potential for Spotlight to further expand our monetization opportunity in the future.
I still can’t believe TikTok has become the success it has and I don’t even spend much time on social media platforms as I simply find better things to do with my time. But it seems that I’m in the minority and I guess with many of these creators probably making more money than I do, I should be questioning my own life choices instead.
Excuse me while I go cry.
Last Updated: February 8, 2021
